Carbios (ALCRB) H2 2024 earnings summary

Executive summary

• Cash position at €109 million as of December 31, 2024, providing extended visibility for strategic priorities.

• Construction of the PET biorecycling plant in Longlaville postponed by 6–9 months, with operational ambitions maintained and resumption contingent on additional financing.

• Significant progress toward signing binding commercial contracts in H1 2025 and ongoing international licensing negotiations.

• Reorganization and cost-cutting plan launched, targeting a 40% reduction in cash burn while maintaining strategic capabilities.

• First sales of CARBIOS Active in North America following FDA approval and BPI certification.

Financial highlights

• Income for 2024 was €136k, up from €24k in 2023, mainly from feasibility studies and product deliveries.

• Operating expenses increased to €37.6 million from €28.9 million year-over-year, driven by higher personnel, consulting, and depreciation costs.

• Net loss widened to €33.1 million from €27.2 million in 2023.

• Cash and cash equivalents at year-end were €89.8 million, with total financial reserves of €109 million.

• Equity decreased to €199.7 million from €234.3 million, mainly due to the net loss.

Outlook and guidance

• Construction of the Longlaville plant expected to resume between June and September 2025, pending additional funding.

• Advanced discussions for non-dilutive financing, including public grants and potential government-backed debt guarantees.

• Continued focus on signing commercial and licensing agreements in 2025.